Last week I discussed five takeaways regarding Philly's 2020 property tax assessments. This week, I want to discuss a few more key pieces of the process.
Most importantly, if your 2019 assessment is too high (either in value or when compared to your neighbors), and you missed the appeal process for 2019, you now get another shot to appeal for 2020.
The city has not set the appeal deadlines yet, but I will let you know when they do. There will be two appeal deadlines. The First Level Review deadline and the Final Appeal Deadline. As the name implies, the First Level Review is (supposed to be) a quicker, less formal process. Suffice to say, it has not been quick.
The next big question is what will your 2020 real estate property valuation be? You should have that answer soon. And I mean real soon. State law requires the city mails out any changes to assessments by March 31st. Yes, I mean in two days. You will only receive a notice if your valuation changes for 2020.
But why wait to receive snail mail from the city (assuming it ever arrives at all). On March 31st, the city says it will post every 2020 valuation on the OPA website. Here is where you can review your 2020 assessment whether it changed or not. Again, this is key if you are considering a 2020 appeal and your value did not change. BECAUSE YOU CAN APPEAL 2020 EVEN IF YOUR VALUATION DID NOT CHANGE FROM 2019. You are appealing the actual value and not the percentage change.
So if you want to jump online on Sunday (who knows what time) and check out your 2020 valuation, you can do so here. Philly.gov's Property site is actually really well done. I will discuss all of the resources available there in a future post.
The site only tells you your valuation. Not your tax. To determine that you need to multiply the assessment by the 1.3998% tax rate. And if your property is your primary residence, you will also need to factor in your $40,000 Homestead Exemption. This is what I will discuss in more detail next week. Once you have your valuation, it will make more sense.
I cannot wait to start reviewing the 2020 valuations this weekend. I have checked several times today (of course), and they are not up yet. So please review and contact me if you have any issues, need me to clarify something, or to look up for you.
And remember, I obviously love discussing Philly property taxes, so do not hesitate to reach out if you would like to discuss.
Finally, if you missed last week's tax talk, it is archived on my blog here.
Until Next Time,
Jeff "City" Block
Neighborhood News, Etc.
Are you familiar with eSports?
If not, you probably will be soon. And it is no joke. eSports, or professional gaming, is huge business. How big? Comcast owns the Philadelphia Fusion, an eSports team in the Overwatch Leaugue. And Comcast Spectacor is building the first arena in the Western Hemisphere specifically geared towards eSports. And it will not be the last. With a projected $50 million price tag, ground breaking will commence this summer. When complete, Fusion Arena will seat 3,500 and will be located next to Xfinity Live at the sports complex! Fusion arena will also host concerts and other events.
New Spots for Spring Retail Therapy
If you want to shop like a champion, you finally can right here in Philly. A Champion Store just dropped at 1507 Walnut St. Don't miss the super cool installation
of Philly’s skyline made completely out of yarn. Expect Flyers apparel and Vintage Sixers Jerseys as well as Penn and Temple branded sportswear.
Ritual Shoppejust moved from NoLibs to Rittenhouse. it's a great go-to store for gifts (Jewelry/apothecary /home.) 2003 Walnut St. And new in Wash West – Body + Beauty Lab. They specialize in
treatments you can get on your lunch break, like speedy HydraFacials.
Phils stuff–official and vintage Now that it's officially baseball season, it's time to stock up on official swag. I really like the variety of stuff at mlbshop.com (so easy and lots of free shipping deals). And if you prefer vintage looking stuff like I do, check out Shibe Vintage Sports online or at their store at 137 S 13th in Midtown Village.
Join His Honor On April 4, 2019 The Design Advocacy Group (DAG) hosts Mayor Jim Kenney and also Anne Fadullon, who serves as director of the Department of Planning and Development. Expect the two to openly discuss
8:00 a.m. – 9:30 a.m. Center / Architecture + Design, 1218 Arch Street
Spotlight Property of the Week
2004 Delancey Street – Rittenhouse Square
6 Beds | 5 Baths | 2 Half-Baths
Incredibly wide at 26’ and with soaring 14’ ceilings and 2-car GARAGE, this residence provides an unmatched combination of space, significant original character, and a premier address. Tasteful, custom finishes throughout, along with multiple large spaces, provides the perfect mix of flexible and formal; everyday living and entertaining. It’s sophisticated elegance inherent to a true world-class neighborhood. Gracious outdoor space.
The following five properties are not yet listed on MLS – but they will be next week!
That means as an ATB newsletter subscriber, you know about these opportunities before the general public.
109-11 Pine Street – Society Hill 4 Bed + Office, + Family Room, 3.5 Bath Includes parking $1,800.000
Just a quick reminder that I'm always humbled by and appreciative of your referrals. If you have a friend or family member that is in need of expert real estate representation, please send them my way. Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.
Some images in this newsletter were sourced from Visit Philadelphia ®.
Compass Pennsylvania, LLC is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.